As per the blog post published on February 28, a major cryptocurrency exchange headquartered in the United States added support for Ripple (XRP) to its retail platform and mobile apps.
According to the announcement, the users of Coinbase are now able to purchase, sell, convert, send, receive, and store Ripple both on Coinbase.com and on the Android and iOS applications of Coinbase.
Like always, this facility will apparently be accessible for most of the authorities, but initially, it will not be available for the citizens of the United Kingdom and New York state of U.S. A.
Reportedly, on February 25, Coinbase declared support for Ripple on its Coinbase Pro platform. In the statement made, Coinbase said that complete trading of Ripple will be provided to the clientele in the U.S., Canada, the European Union, the United Kingdom, Singapore, and Australia, and it is also intending to expand its services to other countries in the coming future.
After the news broke, a research firm related to blockchain namely Diar issued a report stating that Ripple is violating one of the listing rules of Coinbase. From the report, in its “Digital Asset Framework,” Coinbase stated that “the possession stake retained by the team is a minority stake,” whereas Ripple supposedly holds nearly 60 % of the supply in escrow with a release schedule.
Per the reports, XRP has not reacted to the news yet. XRP was up by just 0.4 % and is presently trading at around $$0.313, as per the data from CoinMarketCap. This coin has faced a major slump today before recovering, it was dropped to as low as $0.309 as of today.